Planning a hybrid event? Want to know how much to budget? Simply follow our step-by-step guide to budgeting for a hybrid event.
Table of Contents
1. Hybrid event guidance prices
2. Virtual event platform
3. Streaming platform
4. Filming and virtual event production
5. Venue hire
6. Catering
Hybrid event guidance prices
Although hybrid events will always involve an in-person and a virtual element, this can look very different depending on your requirements. One hybrid event might involve a panel speaking from a studio with every audience member watching from home. Another might take the form of a large, in-person conference with the option to join remotely for those who want to. As you can imagine, these events alone will require wildly different budgets.
We've put together some examples of popular hybrid event formats along with some rough costs for each. Just remember that prices will vary based on your specific brief. So, before you put together your own budget, just get in touch with one of our Hybrid Event Experts for a more specific estimate inline with your needs.
|
Virtual/Hybrid |
Event |
Filming & |
Audience |
Venue |
Catering |
Guide | |
|
Meeting | 10 / 10 |
£700+ | |||||
|
Conference | 500 / 100 |
£15,000+ | |||||
|
3 Day | 1000 / 1000 |
£66,000+ | |||||
|
In-Studio Virtual | 500+ / 0 |
£7,500+ |
Virtual event platform
Cost: £0 - £10,000
An all-in-one virtual event platform will allow your virtual audience to access your content in one place. Depending on what your priorities are, you could invest in a virtual event platform that features:
- Audience engagement tools (eg. live chat, polling or Q&A).
- AI-powered networking.
- Virtual exhibition stands or sponsor booths.
- Multiple stages.
- Breakout rooms.
- 3D view.
For a 3D virtual event platform, you’re probably looking at around £10,000 per event, whereas a mid-range platform would usually start at closer to £1,500.
Check out our list of the best all-in-one virtual event platforms for some inspiration. Or if you’re looking for a cost-effective option then why not check out Hire Space’s new virtual offering, Arena? Built by event professionals for event professionals, this fully brandable platform has all the features you need to elevate your event while being very reasonably priced.
Streaming platform
£0 - £70 per month
Some virtual event platforms give you the ability to live stream directly into the platform using their software. But others will require you to use a separate streaming tool that can be embedded into your virtual event platform for viewers to watch.
The most popular streaming services for virtual and hybrid events are Vimeo and YouTube. Both offer free basic services with the option to pay a monthly fee to access more capabilities. We’d usually recommend Vimeo for professional events as it has more flexible embed styling options.
Filming and virtual event production
£4,700 - £6,150
You'll need to film your content so that it can be streamed to your virtual audience. The costs for filming and production at a hybrid event will vary depending on your event's duration, as well as how many sessions need to be filmed simultaneously and how many angles you’d like to capture.
Costs usually include a virtual event manager to support you in building your event site and troubleshooting any tech issues on the day.
Packages tend to start at £4,700 for simple production on an event that lasts under two hours. Or, for a more complete package with more than one camera, you're looking at closer to £6,150 for a full day.
If you're looking to save on costs, you could instead explore DIY event production solutions, such as Restream or Streamyard. These tools give you to the ability to pull in speaker video, audio, pre-recorded materials and other resources into a branded live stream broadcast straight from your browser. You could manage your event production this way for free, or you could pay for a monthly subscription to access more features and capabilities. Just bear in mind that these tools won't give your attendees as slick an experience as using a professional production company.
Venue hire
£500 - £15,000 per day
When considering venues for your hybrid event, you should make sure that they have a fast internet speed and, preferably, a hard-wired ethernet connection, 10Mbp+ upload and download speed and open ports (check out our blog ‘hybrid 101’ for more information on venue technical requirements). This will allow you to stream your event live without the worry of technical failure.
If you're planning on having in-person delegates at your hybrid event, you could pay anything from £500 per day for a simple meeting room, to £15,000 per day for a conference centre with room to seat 1,000 delegates.
On the other hand, if you're looking to hire a studio for an in-studio virtual conference (where your speakers are filmed in-person and broadcast to a fully online audience), you could be looking at anywhere between £3,500 and £26,500.
Browse our selection of the best hybrid event venues to find one perfect for your needs.
Catering
£0 - £50 pp
Catering is commonplace at in-person events. So, you'll need to factor refreshments for your in-person attendees into your hybrid event budget. Prices could range from £6 per head for a few servings of tea and coffee, to £50 per head for a full meal during a conference or awards ceremony.
Although catering isn't necessary for your virtual attendees (given the fact they'll be able to eat at home), you may wish to have some refreshments sent to them in the post in advance to make your event more special or memorable.
Prices for virtual event caterers range from around £4.50 per person (for small snacks) to around £50 per person (for a full meal and drinks package).
As you can see, there’s no easy way to tell you exactly how much a hybrid event costs. Instead, it will depend on a number of factors, including how many delegates are attending both in-person and online, the capabilities of the technology you choose and how much importance you place on both the virtual and physical elements of your event.
To get a bespoke quote for your needs, just get in touch with our hybrid event experts, who’ll be happy to help. If you're looking for a little extra bang for your buck, check out Hire Space 360, the modern event planner's best friend. Unlimited access to Arena and other event tech, on-demand eventprofs, and much more... all for just £95 a month!
Author
Imogen Beech
With a love of interior design, Imogen’s writing experience has taken her from the mansions of the rich and famous to the capital’s most unique events spaces on Hire Space.
